Direct Investment Request - 2023 No. 1

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The decision

2023-02-10 · Toronto Atmospheric Fund · adopted

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved an investment of up to $1,000,000, subject to the terms and conditions outlined by the Direct Investment Committee at its meeting on 24 January 2023, as set out in Confidential Attachment 1 to the report (January 27, 2023) from the Vice President, Impact Investing, Toronto Atmospheric Fund. 2. Directed Toronto Atmospheric Fund's Vice President, Impact Investing to implement the investment to the satisfaction of Toronto Atmospheric Fund's Solicitor.

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3. Directed that the confidential information contained in Confidential Attachment 1 to the report (January 27, 2023) from the Vice President, Impact Investing, Toronto Atmospheric Fund remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the agenda

As the city filed it

This report recommends an investment of up to $1,000,000 in secured green bonds. Due diligence demonstrates strong alignment with Toronto Atmospheric Fund's mandate and potential for appropriate risk-adjusted returns. The allocation is in compliance with Toronto Atmospheric Fund's investment policy and target portfolio.

Staff recommended

The Vice President, Impact Investing recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve an investment of up to $1,000,000, subject to the terms and conditions outlined by the Direct Investment Committee at its meeting on 24 January 2023, as set out in Confidential Attachment 1; 2. Direct Toronto Atmospheric Fund's Vice President, Impact Investing to implement the investment to the satisfaction of Toronto Atmospheric Fund's Solicitor; and 3.

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Direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the record

The item as the City filed it

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